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Rushydro selects Bank of New York Mellon as depositary.

Global Banking News-10 July 2008-Rushydro selects Bank of New York Mellon as depositary(C)2008 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 10 July 2008(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk

The Bank of New York Mellon Corporation (BofNY Mellon) (NYSE: BK) has been selected by Russia's electricity-generating company, Rushydro, as the depositary bank for its global depositary receipt programme.

'We are pleased to be selected as Rushydro's depositary bank. We are gratified by the company's confidence in our capabilities and look forward to supporting its efforts to expand its global profile,' said Michael Cole-Fontayn, CEO of depositary receipt division at The Bank of New York Mellon.

The Bank of New York Mellon's Depositary Receipt business is conducted through The Bank of New York subsidiary, which acts as depositary for more than 1,300 American and global depositary receipt programmes.

[Editorial queries for this story should be sent to gbn@enpublishing.co.uk]

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Publication:Global Banking News (GBN)
Date:Jul 10, 2008
Words:168
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